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It depends.
If you did not pay any qualified education expenses including tuition and books out of pocket, you do not qualify for any education tax breaks. Therefore, you do not need to report your Form 1098-T.
However, if your scholarship only covers your tuition and you paid out of pocket money on your books and supplies, you should qualify for a partial education tax credit or deduction. To claim the benefits, in the TurboTax program, enter your Form 1098-T information, follow prompts to enter the other education expenses.
Here are the steps:
Per IRS, if you have paid qualified education expenses and meet certain requirements, you may qualify for an education tax break including the American Opportunity Tax Credit AOTC, Lifetime Learning Credit or Tuition & Fees deduction. To see if you qualify, here are the links:
Just to be clear when I put the form in my 1089 it gives me money back because of the expenses I paid for like my books and supplies .
im just trying to figure out if the hazel wood act qualifies as a veteran benefit even though when they ask how much money I got I didn’t get any money just my tuition paid for. Should I answer yes or no to that question ?
Yes, the Hazlewood act qualifies as Veterans benefits.
But, if the amount of Hazlewood money does not show up in either box 5 or box 1 of the 1098-T, you ignore it. It is a tuition waiver. Do not enter the Hazlewood amount at the GI benefits box in TurboTax. You may claim the tuition credit based on books and other course materials, including computers and software.
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